Explanation

This section provides conceptual explanations of the methodologies and components used within the Abacus library.

Explanation:

• Explanation: Core MMM Methodology
• Explanation: Model Components
• Explanation: Leave-One-Out Cross-Validation (LOO-CV)
• Comparison with Other MMM Libraries
• Explanation: Optimisation Concepts

• Methodology: Overview of the core MMM concepts (Bayesian approach, adstock, saturation).

• Model Components: Deeper dive into baseline, seasonality, media effects, and control variables.

• LOO-CV & Model Checking: Understanding Leave-One-Out Cross-Validation and related metrics (ELPD, p_loo).

• Model Comparison: How Abacus compares to other MMM approaches and tools.

• Optimisation Concepts: The theory behind the budget optimisation process.